Arguelles v. Kaplan

OPINION

DORSEY, Justice.

This appeal is from a suit on a note to which the defense of usury was asserted. The trial court after trial without a jury, entered judgment against appellant/maker on the note after deducting a penalty for usury. Both parties filed motions for new trial and appeal from the judgment. Appellant relies on a tender of a deed to reduce his liability to appellee. We affirm in part and reverse and remand in part.

On August 20, 1980, Sergio Arguelles, appellant, executed a promissory note payable to Leonard S. Kaplan, appellee, in the amount of $65,000.00 payable by February…